Buying activity surged as Bitcoin approached its all-time high, but the behavior of sharks indicates divergence.
RSI signals overbought conditions, while MACD momentum is weakening — BTC needs to break above $105K or risk a downward adjustment.
The momentum of Bitcoin is increasing as buyers aggressively flood into the market.
The Taker Buy/Sell ratio has risen to 1.02 – a level not seen since before historical breakout moments — indicating increasing confidence among market participants.
On-chain data shows that large wallets are increasing their accumulation, preparing for a push to new highs that many speculators predict could be the final move.
With market sentiment heating up and BTC near previous highs, is the next bull phase about to begin?
Strengthening market confidence?
According to a report from CryptoQuant, the Taker Buy/Sell ratio has surpassed the 1.00 threshold, reaching 1.02 — a level associated with previous price breakout moments of Bitcoin.
Source: Cryptoquant
Similarly, peaks have been recorded near the accumulation zone of $15K-$20K at the end of 2022 and just before the $30K breakout in October 2023.
With BTC currently nearing its all-time high, the return of strong buying activity indicates increasing confidence — but also means greater risks, as this could signal both a price increase and a significant correction.
The activity of large whales has slowed down.
Although the overall accumulation trend remains positive, a closer look shows a subtle shift in behavior.
According to Glassnode, large sharks holding over 10,000 BTC have slowed their buying pace, returning to a neutral accumulation point of around 0.5.
Conversely, mid-tier groups — wallets from 1,000 to 10,000 BTC — remain active buyers, with a score close to 0.9.
Source: Glassnode
Smaller-sized wallets, belonging to institutions, also show continued strength. However, retail continues to distribute.
Although the upward momentum continues, the rally is mainly driven by the mid-tier sharks rather than the largest holders.
Bitcoin shows signs of exhaustion.
BTC is trading just above $103,800 at the time of writing after several failed attempts to break the $105K threshold. While the daily candle shows convergence, the indicators signal mixed results.
RSI at 70.68 confirms overbought conditions, often a precursor to a local peak or slight correction.
MACD still maintains a bullish signal, with the MACD line above the signal line. However, momentum is flattening — reflecting diminishing buying pressure.
Source: TradingView
Prices continue to fluctuate within a range despite previous spikes, hinting at exhaustion.
If BTC does not convincingly break above the $105K threshold, a short-term adjustment towards the $100K support level or lower may occur before a sustainable breakout attempt.
Source: https://tintucbitcoin.com/dau-hieu-bitcoin-tro-lai-btc-se-dat-dinh-moi/
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